Reliance Jio raises Rs 5,656 crore from Silver Lake days after mega deal with Facebook

Reliance Jio raises Rs 5,656 crore from Silver Lake days after mega deal with Facebook
By: FE Online | Updated: May 4, 2020 10:02:20 AM
The Silver Lake investment in Reliance Jio values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and is at a 12.5 per cent premium to the Facebook valuation.
Silver Lake, Reliance Jio

Silver Lake investment in Reliance Jio values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore
American private equity firm Silver Lake Partner will invest Rs 5,655.75 crore Jio Platforms, a wholly-owned subsidiary of Reliance Industries (RIL). The announcement comes days after the mega-deal of Reliance Jio with Facebook. The Silver Lake investment in Reliance Jio values Jio Platforms at an equity value of Rs 4.90 lakh crore and an enterprise value of Rs 5.15 lakh crore and is at a 12.5 per cent premium to the Facebook valuation. According to the deal announced last month, Facebook agreed to buy a 9.99 per cent equity stake in Mukesh Ambani’s Reliance Jio for Rs 43,574 crore. Both the companies also agreed to let Reliance Retail use WhatsApp as part of its ‘New Commerce’ business.

Silver Lake Partners has investments in Airbnb, Alibaba, Ant Financial, Alphabet’s Verily and Waymo units, Dell Technologies, Twitter and other global technology leaders. “Silver Lake has an outstanding record of being a valuable partner for leading technology companies globally. We are excited to leverage insights from their global technology relationships for the Indian Digital Society’s transformation,” Mukesh Ambani, Chairman and Managing Director, Reliance Industries Ltd, said.